Mile High Community Loan Fund
1905 Sherman Street
Suite 325
Denver, CO 80203
Office: 303-860-1888
Fax: 303-860-1848
Contact Us
Borrowers
Our experience tells us that every project and every borrower is unique. To that end we treat each borrower personally to insure the loan is a right fit for your organization.
Mile High Community Loan Fund is a short-term lender, often taking the middle risk position between bank financing and public subsidies. The majority of our loans are very early stage and high risk.
Our focus is on real estate based lending to developers of affordable housing, nonprofit facilities and other community projects. We lend to a full spectrum of affordable housing and community development projects – this includes emergency shelters, transitional housing, as well as rental and for-sale housing projects. Lending to nonprofit facility projects is even broader in that the only requirement is the nonprofit must serve low-income communities and/or individuals.
Loan products
- Predevelopment (Can include environmental testing, engineering studies, architectural work, permitting fees, and earnest money.)
- Acquisition (for purchase of vacant land or improved property)
- Construction
- Bridge (to cover shortfalls due to timing of receipt of funds)
- Mini-perm
MHCLF loans are unique in that while banks may limit borrowers to 60-90% of the value of the underlying real property, MHCLF can lend up to 100% loan-to-value. Gap financing and flexible repayment terms are another option offered to customers. Most loans have a term of between 6 and 24 months, and mini-permanent loans carry a term of up to 60 months.
Mile High Community Loan Fund’s Loan Committee meets weekly to ensure a speedy turnaround.